There are two types of disability insurance, long-term and short-term. Disability insurance is designed to replace income or other expenses if you are unable to work for an extended period of time due to a covered physical or mental illness or injury.

Short-term disability insurance covers a portion of the policyholder's salary for a short period following a disability. The specific waiting period of coverage and percent of income covered will vary by policy.

Long-term disability kicks in after a policyholder is unable to work for a specified period of time, generally six months. Depending on the policy, coverage can last for a specified number of years or until the policyholder reaches an age or life milestone such as retirement.

Guaranteed automobile protection insurance, also known as GAP insurance, covers the difference between the actual cash value of a vehicle and the balance still owed on the financing for the loan or lease of a vehicle. For example, if your covered automobile was declared a total loss after an accident but you did not receive enough money from the insurance settlement to pay off the auto loan, GAP insurance would pay the difference.

Pet insurance is similar to health insurance for humans. It will usually have exclusions, various levels of coverage, deductibles, and payment limits. Some carriers have different levels of coverage for the customer to choose from, while other carriers have one-size-fits all type plans. Most pet insurance companies exclude pre-existing conditions and hereditary or congenital conditions, and most general pet health policies do not cover wellness or preventative items, such as annual exams, vaccinations, and spaying or neutering. Some insurance companies will not accept pets after a certain age and many companies have waiting periods before benefits begin.

Insurance policies are usually broken out by the type of pet being insured and some companies allow the owner to choose their veterinarian. The actual monthly cost of the policy will depend on many variables, including the species of animal, breed, gender, age, location, and the coverages and deductible chosen. Most policies pay on a reimbursement basis and are not transferable to other pets, but with written approval and consent, some policies can be transferred to new owners.

Reimbursement methods can be different among companies. Some companies use a benefit schedule, which reimburses policyholders based on the illness or injury and the coverage level chosen. Other companies reimburse a percentage of the amount actually spent by the policyholder.

Title insurance is an insurance policy that covers you if title problems arise after you buy or refinance a property. Possible complications include lost, forged or incorrectly filed deeds, property access issues and liens on a property.

For example, if there is an unpaid mortgage on the property you just purchased, you may be held responsible. Without title insurance, you might have to pay legal costs to settle a dispute. If you lose a dispute, it could cost you money, the equity you have in your home and perhaps even ownership. Title insurance is designed to protect your ownership of a piece of property and to cover associated legal costs to settle the dispute and resolve the problem. For more information about Title Insurance, please see our Frequently Asked Questions on the topic.

There are several types of travel insurance. One type, commonly called trip cancellation insurance, protects against the loss of non-refundable travel costs – like airfare, hotel or tour expenses. Other types of travel insurance offer protection against loss due to medical emergencies, damage to personal property or death that occurs while you are traveling.

Trip Cancellation/Delay/Interruption Insurance

Travel insurance generally covers a very specific list of reasons for cancellation, delay or interruption. Before you buy a policy make sure you review these situations carefully.

Trip Cancellation: Reimburses pre-paid travel expenses if you aren’t able to take your trip due to your illness or death.

Travel Delay: Reimburses pre-paid expenses if you aren’t able to take your trip because of a travel delay, such as a flight delay or cancellation.

Trip Interruption: Reimburses pre-paid expenses if your trip is cut short due to some misfortune listed in the policy or due to your illness or death, although pre-existing conditions and suicides are typically excluded. Covered reasons might include bad weather, airline strikes, terrorism, jury duty, fire or flood damage to your home, or the death of certain family members.

Medical/Accidental Death Insurance

When considering a medical or accidental death travel policy, ask about pre-existing conditions and age limits. How companies deal with pre-existing conditions can vary widely. Read the terms of coverage carefully if you have a pre-existing condition and be prepared to pay a higher premium to cover them. Some insurers also charge more for older travelers. American health insurance is generally not accepted outside of the United States. To find out more about the extent of your coverage, speak with your health insurance agent or health insurance company before you leave home.

Medical/Health: Reimburses medical and emergency health care expenses that you incur because of an illness or injury while you’re traveling.

Medical Evacuation: Provides emergency transportation to either a hospital in the geographic region where you are and/or transportation back to a hospital near your home.

Accidental Death: This coverage is usually split into three parts:

Air Flight Accident: Covers death or dismemberment during flight only.

Common Carrier: Covers death or dismemberment while traveling on public transportation such as a plane, ferry, train, bus or taxi.

Accidental Death: Covers death or dismemberment at any time during a trip.

Workers compensation insurance is state-mandated coverage that provides coverage for workers and protects or indemnifies the employer’s liability. Workers compensation coverage provides benefits for employee job-related injuries or diseases without admitting fault on the part of the employer. This insurance is usually purchased by the employer from an insurance company. It usually covers the costs of medical care or rehabilitation of an employee or a payment if the employee is disabled or dies as a result of a work-place accident.